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(From CBS Marketwatch (Stories))
GigaMedia tumbles in wake of Q3 results (12:07 PM ET) NEW YORK (CBS.MW) -- Shares of GigaMedia Ltd.tumbled almost 13 percent to $2.12 after the Taipei, Taiwan-based broadband and entertainment services provider reported fiscal third-quarter earnings of $688,000, or 1 cents per share, up from its year-ago equivalent loss of $2.7 million, or 5 cents per share. The company said number of subscribers in its consumer broadband internet service business decreased slightly on a sequential basis to 97,000. Looking ahead, the company said it believes "the general business environment remains challenging, with continuing weakness in the music distribution market and strong competition in the broadband ISP market."
Family Dollar sees Q1 earnings below Wall St. view (9:02 AM ET) NEW YORK (CBS.MW) -- Family Dollar Stores Inc.said November same-store sales rose 5.2 percent. Total sales for the four weeks ended Nov. 27 jumped 13.7 percent to $457.9 million from $402.6 million in the same period a year earlier. The Matthews, N.C., discount retailer said that sales of more discretionary merchandise were below plan for 13 weeks ended Nov. 27, and it forecast earnings of 32 to 33 cents per share for the first quarter, below the current average estimate of analysts polled by Thomson First Call for a profit of 36 cents per share in the period. The stock closed Wednesday at $29.96, up 2.3 percent.
New York Times sees Q4 earns below Wall St. view (8:52 AM ET) NEW YORK (CBS.MW) -- The New York Times Co.said it expects earnings before items of 69 to 73 cents per share in the fourth quarter, below the current average estimate of analysts polled by Thomson First Call for a profit of 75 cents per share. The company said that advertising revenue for the period wasn't as strong as anticipated and that costs for promotion, printing, distribution and newsprint increased due to strategic initiatives. For the year, New York Times forecast earnings before items of $1.90 to $1.93 per share, below Wall Street's consensus estimate of $1.96 per share. For 2005, the company sees ad rate growth in the mid-single digits. The company added that it will no longer provide outlooks for full fiscal years because ot the "limited visibility that today's media environment allows." New York Times also said that it plans to start expensing the cost of options and its employee stock purchase plan. It estimated the cost of doing this in 2004 would have been $97 million on a pre-tax basis, or 42 cents per share. The stock closed Wednesday at $41.06, up 6 cents.
Sears November same-store sales grow 2.8% (8:41 AM ET) NEW YORK (CBS.MW) -- Sears, Roebuck and Co.reported November same-store sales …